Wells Fargo Initiates Coverage on Endocyte (ECYT)

Analysts at Wells Fargo started coverage on shares of Endocyte (NASDAQ:ECYT) in a report released on Friday, March 9th, MarketBeat reports. The firm set an “outperform” rating on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on ECYT. BidaskClub raised shares of Endocyte from a “sell” rating to a “hold” rating in a research note on Saturday, March 3rd. ValuEngine raised shares of Endocyte from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Zacks Investment Research raised shares of Endocyte from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Cowen raised shares of Endocyte from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $7.00.

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ECYT stock opened at $9.83 on Friday. Endocyte has a 12 month low of $1.17 and a 12 month high of $11.54.

Endocyte (NASDAQ:ECYT) last issued its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.02). Endocyte had a negative return on equity of 40.33% and a negative net margin of 78,662.86%. The company had revenue of $0.01 million for the quarter. During the same quarter in the previous year, the company posted ($0.26) earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. equities analysts anticipate that Endocyte will post -0.87 earnings per share for the current year.

In related news, insider Philip S. Low sold 50,511 shares of the firm’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $4.41, for a total transaction of $222,753.51. Following the completion of the sale, the insider now owns 354,050 shares in the company, valued at $1,561,360.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher P. Leamon sold 5,036 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $9.07, for a total transaction of $45,676.52. Following the sale, the vice president now owns 143,470 shares of the company’s stock, valued at approximately $1,301,272.90. The disclosure for this sale can be found here. Insiders have sold 106,058 shares of company stock worth $491,184 over the last three months. 14.86% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ECYT. Dimensional Fund Advisors LP increased its holdings in Endocyte by 34.1% during the second quarter. Dimensional Fund Advisors LP now owns 98,313 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 25,003 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Endocyte by 1,064.3% in the second quarter. Goldman Sachs Group Inc. now owns 430,994 shares of the biopharmaceutical company’s stock worth $646,000 after purchasing an additional 393,975 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Endocyte by 46.5% in the fourth quarter. Bank of New York Mellon Corp now owns 51,313 shares of the biopharmaceutical company’s stock worth $219,000 after purchasing an additional 16,283 shares in the last quarter. BlackRock Inc. increased its stake in shares of Endocyte by 223.7% in the fourth quarter. BlackRock Inc. now owns 1,138,791 shares of the biopharmaceutical company’s stock worth $4,875,000 after purchasing an additional 786,933 shares in the last quarter. Finally, EAM Investors LLC purchased a new position in shares of Endocyte in the fourth quarter worth about $420,000. Institutional investors and hedge funds own 41.56% of the company’s stock.

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Endocyte Company Profile

Endocyte Inc (Endocyte) is a biopharmaceutical company. The Company is engaged in developing therapies for the treatment of cancer and inflammatory diseases. The Company uses its technology to create small molecule drug conjugates (SMDCs) and companion imaging diagnostics. The Company’s pipeline includes Folate-Tubulysin (EC1456), the Company’s second generation SMDC, also targets the folate receptor; PSMA Tubulysin (EC1169), the Company’s non-folate SMDC, which is a tubulysin therapeutic targeting PSMA; Vintafolide (Folate DAVLBH), SMDC, vintafolide, targets the folate receptor with the anti-cancer drug payload DAVLBH; Folate-DNA alkylator (EC1788), which is a folate receptor-targeted SMDC with a potent DNA alkylator drug; Folate-Aminopterin (EC1669) is a folate receptor-targeted SMDC for the treatment in inflammatory diseases, and Folate-mTor inhibitor (EC0371), which is a folate receptor-targeted SMDC for the treatment of polycystic kidney disease(PKD).